This Option to Purchase Addendum to Residential and Lease Agreement is entered into by and between the lessor and the lessee. The lessor agrees not to offer the residence for sale to anyone during the term of the lease, and to give the lessee (tenant) the option to purchase the residence at any time prior to the expiration of the lease, provided the lessee gives notice of intent to purchase in accordance with the provisions of the Addendum. At that point, a separate contract of sale will be executed and the sale will proceed as any sale would.
Please note: This Addendum form is NOT a lease agreement. You will need a separate Residential Lease Agreement. The Addendum would be attached to that Agreement
Arvada, Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own If you are considering leasing a property in Arvada, Colorado, but wish to explore the possibility of purchasing it in the future, the Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own is an excellent tool to help you achieve that goal. This addendum provides you with the opportunity to lock in a purchase price and the option to buy the property at a later date. The Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own allows you to enter into a lease agreement with the landlord, giving you the right to lease the property for a certain period of time, typically one to three years. During this lease term, you have the exclusive option to purchase the property at a predetermined price, providing you with the flexibility to test out the property before committing to a full purchase. There are several types of Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own agreements: 1. Fixed Purchase Price: In this type of addendum, a specific purchase price is agreed upon between you and the landlord. This price remains unchanged throughout the lease term, regardless of market fluctuations. This option allows you to secure the property at a desirable price even if the market prices increase in the future. 2. Adjustable Purchase Price: The adjustable purchase price option allows for a fluctuating purchase price based on market conditions. In this case, the purchase price will be determined at the time of exercising the option to buy, considering the current market value. This type of agreement is beneficial if you anticipate a decrease in property prices in the future. 3. Rent Credit: Some Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own agreements allow for a portion of the monthly rent paid to be credited towards the purchase price if you decide to buy the property. This rent credit accumulates over time and can contribute significantly towards the down payment or overall purchase price. 4. Dual Agreement: A dual agreement combines the lease agreement and the purchase agreement into a single document. This streamlines the process and ensures that both parties are on the same page regarding the terms and conditions of the lease and future purchase. The Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own provides a valuable opportunity for potential homeowners to rent a property while having the option to purchase it in the future. It offers flexibility, security, and the ability to test out a property before committing to a long-term investment. By using this addendum, you can take the first step towards homeownership in the beautiful city of Arvada, Colorado.Arvada, Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own If you are considering leasing a property in Arvada, Colorado, but wish to explore the possibility of purchasing it in the future, the Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own is an excellent tool to help you achieve that goal. This addendum provides you with the opportunity to lock in a purchase price and the option to buy the property at a later date. The Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own allows you to enter into a lease agreement with the landlord, giving you the right to lease the property for a certain period of time, typically one to three years. During this lease term, you have the exclusive option to purchase the property at a predetermined price, providing you with the flexibility to test out the property before committing to a full purchase. There are several types of Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own agreements: 1. Fixed Purchase Price: In this type of addendum, a specific purchase price is agreed upon between you and the landlord. This price remains unchanged throughout the lease term, regardless of market fluctuations. This option allows you to secure the property at a desirable price even if the market prices increase in the future. 2. Adjustable Purchase Price: The adjustable purchase price option allows for a fluctuating purchase price based on market conditions. In this case, the purchase price will be determined at the time of exercising the option to buy, considering the current market value. This type of agreement is beneficial if you anticipate a decrease in property prices in the future. 3. Rent Credit: Some Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own agreements allow for a portion of the monthly rent paid to be credited towards the purchase price if you decide to buy the property. This rent credit accumulates over time and can contribute significantly towards the down payment or overall purchase price. 4. Dual Agreement: A dual agreement combines the lease agreement and the purchase agreement into a single document. This streamlines the process and ensures that both parties are on the same page regarding the terms and conditions of the lease and future purchase. The Arvada Colorado Option to Purchase Addendum to Residential Lease — Lease or Rent to Own provides a valuable opportunity for potential homeowners to rent a property while having the option to purchase it in the future. It offers flexibility, security, and the ability to test out a property before committing to a long-term investment. By using this addendum, you can take the first step towards homeownership in the beautiful city of Arvada, Colorado.
